TEHRAN (ecoideal)- Iranian Ambassador to Pakistan Mehdi Honardoust announced that a currency swap agreement and resumption of banking channels between Tehran and Islamabad is under process.
"Bilateral trade would be promoted and the Iranian banks would open branches in the country once the currency swap agreement is reached," Honardoust said.
The Iranian ambassador said that Iran and Pakistan have multi-functional and multi-aspect relations, adding that both countries should adopt a new approach and move forward; though trade between the two countries is growing, it is below the potential."
"Business organizations of both countries should be given wake-up calls so that they can play their due role for strengthening trade and economic ties. Iranian Embassy and Consulate are always open for Pakistan’s business community," he added.
Honardoust went on to say that Iranian Free Trade Zones have great potential for Pakistani businessmen and they should avail this opportunity through joint ventures.
In a relevant development last year, Central Bank of Iran (CBI) and the State Bank of Pakistan (SBP) reached an agreement on banking and payment system, as the two countries seek to raise the volume of bilateral trade to $5 billion.
Source: Farsnews